Sugar prices fall in Maharashtra, steady in north India.

Prices of sugar fell in Mumbai and Kolhapur, in Maharashtra, due to weak buying even as mills lowered their prices to trigger demand. Demand has been subdued for almost two weeks in the state. In the key wholesale markets of Kolhapur and Mumbai, sugar was sold down 5 rupees from Thursday. In the other key wholesale markets of Muzaffarnagar and Delhi, prices were unchanged as trade remained thin. Demand for sugar is also subdued in the country as forecast of normal monsoon in 2017 has dampened the sentiment. Adequate rainfall may help in reviving the sugarcane crop across the southern part of India, which is facing acute shortage of water. Sugar prices in the near term may further fall as supplies are expected to increase once the imported sugar arrives in the market. On the NCDEX, the most-active July contract of sugar traded up 0.2% from the previous close.